BAKU, Azerbaijan, Feb.26
By Leman Zeynalova – Trend:
Southern Gas Corridor is a project of exceptional importance not only for Bulgaria, but also for the countries of Southeast Europe and the European Union, Bulgarian Minister of Energy Temenuzhka Petkova told Trend ahead of the sixth meeting of the Southern Gas Corridor Advisory Council in Baku.
“I am honoured to participate in the sixth meeting of the Southern Gas Corridor Advisory Council. I recognize the serious progress that has been made and the many resolved issues and challenges that have been addressed since the First Council meeting in February 2015. At the forthcoming meeting, we will be able to take stock of what has been achieved over the last five years and that we are moving towards the successful implementation of the ambitious and large-scale project of the Southern Gas Corridor – a project of exceptional importance not only for the Republic of Bulgaria, but also for the countries of Southeast Europe and the European Union,” she said.
Petkova went on to add that Bulgaria is an integral part of the development of the Southern Gas Corridor through the Interconnector Greece-Bulgaria.
“Our country’s focus during the Advisory Council will be at the interconnector project Greece–Bulgaria. The project is essential for the diversification of gas supplies to Bulgaria and other countries in the region,” said the minister.
Petkova pointed out that the importance of IGB for Bulgaria is also determined by the need to ensure delivery of the contracted 1 billion cubic meters a year of Azerbaijan natural gas from Shah Deniz II field for Bulgaria, starting at the end of 2020, in synergy with the Trans Adriatic Pipeline (TAP).
“The building of the interconnector has started and we expect the construction company to complete the construction by the end of 2020, in synergy with the commissioning of the TAP. This will allow alternative supplies not only for our country, but also for the entire region of Southeast Europe,” she added.
The Southern Gas Corridor project aims to increase and diversify European energy supply by bringing gas resources from the Caspian Sea to markets in Europe.
The Southern Gas Corridor comprises the following four projects: (i) operation of Shah Deniz natural gas-condensate field ("SD1" project) and its full-field development ("SD2'" project), (ii) the operation of the South Caucasus Pipeline ("SCP" project) and its expansion ("SCPX" project), (iii) the construction of the Trans-Anatolian Natural Gas Pipeline ("TANAP" project) and (iv) the construction of the Trans Adriatic Pipeline ("TAP" project) (SD2, SCPX, TANAP and TAP collectively, the "Projects").
The Projects have an estimated investment cost of approximately $40 billion. Upon completion, the SD2 project will add a further 16 bcm of natural gas per annum to 10.9 bcma (maximum production capacity) already produced under SD1 project.
Total length of the newly constructed SCPX, TANAP and TAP pipelines will be more than 3,200 kilometres.
The Interconnector Greece-Bulgaria project envisages a two-stage development.
In the first stage, the pipeline capacity will be 3 billion cubic meters of gas, of which 2.7 billion cubic meters will be offered for the long-term market, the remaining share of 0.3 billion cubic meters in the short term.
In a second phase, also depending on the evolution of the market, the capacity of the pipeline can be increased to 5.3 billion cubic meters of gas thanks to the addition of a compression station: 4.5 billion cubic meters of gas 0.5 billion cubic meters of short-term gas will be offered for long-term products.
---
Follow the author on Twitter:@Lyaman_Zeyn
